Webcast: Tax Accounting for Inventories (XATAI317)
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This course details methods of valuing inventory, including special rules for dealing with LIFO inventory. Effect of shrinkage and market will also be discussed and participants will learn about proposals to prohibit LCM and subnormal goods methods that include wash-sale goods.

12/7/2017
When: 12/07/2017
12:00 PM until 2:00 PM
Where: Webcast
AICPA
1377150:DC0879B1CF00F3744798A37DDDC72057
United States
Presenter: William Harden


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Acronym XATAI317
CPE 2 hours
Vendor AICPA
Category
Taxes
Level Intermediate
Prerequisite Three to five years of tax experience
Adv Prep None
Yellow Book? No
Designed for Tax professionals in public accounting or within corporate finance or tax departments
Registration
Member $99
CPA Non-Member $129

The Member rate applies to LCPA members, other state society members, and non-CPA staff of LCPA members. To register online, use the ‘Register’ button above. To register by phone, call the LCPA Member Service Center at 800.288.5272 or 504.464.1040, Monday through Friday, 8am to 5pm.

Course Description

This course details methods of valuing inventory, including special rules for dealing with LIFO inventory. Effect of shrinkage and market will also be discussed and participants will learn about proposals to prohibit LCM and subnormal goods methods that include wash-sale goods.

Topics

  • 263A 2.0
  • FIFO, LIFO, average
  • Lower of cost or market

Objectives
When you complete this course you will be able to:

  • Explain the allowable inventory valuation methods for tax purposes and how to choose the most beneficial in various scenarios.
  • Estimate the tax value of ending inventory under the chosen method.
  • Calculate the resulting tax adjustment to book income as applicable.